What does take action mean on irs site?
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Cranbury, NJ
Tax Lawyer at Cranbury, NJ
Practice Areas: Tax, Tax Fraud & Tax Evasion, Corporate & Incorporation
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This is not a tax issue as an LLC is a disregarded entity for tax purposes, unless you elect otherwise. It now becomes a contractual issue. This...
You cannot take the interest deduction as you do not own the home. However, why not file jointly?
I think you should speak to an attorney to structure this transaction. One idea is to simply allow your daughter to purchase the house and she can...
The debt is not necessarily forgiven just because you are not working. If you are not working, the IRS can place the debt into CNC status. CNC...
You are doing it correctly. It doesn't matter whether your draw is via a transfer or a check. No personal expenses through the business account. ...
You should timely file the tax returns. You can add a footnote to the return that the decedent died with insufficient funds to pay his/her taxes. ...
It all depends upon the terms of the gift and the lease. You should consult with a real estate attorney.
Actually, transferring as a gift is the best manner to do this transaction. You pay no tax on the gift and your boyfriend merely files a gift tax...
Your accountant may not any of the above without your consent. Note, you may have signed documents that do consent to such. But, if not, his...